Mexico’s Foreign Reserves Rise Again, by $270 Million this Time

Mexico’s Foreign Reserves Rise by $270 Million.

MEXICO CITY – Mexico’s foreign reserves rose by $270 million last week to $176.15 billion, the Bank of Mexico said Tuesday.

The rise in reserves was caused by a sale of dollars by state-owned oil giant Petroleos Mexicanos (Pemex) to the central bank, with the transaction totaling $300 million, while a decline of $30 million in the value of foreign assets held by the central bank was also registered during the week, monetary officials said.

Foreign reserves grew by $12.63 billion from Jan. 1 to Nov. 29, the central bank said in a statement.